Boise Cascade (NYSE:BCC) Given New $134.00 Price Target at Truist Financial

Boise Cascade (NYSE:BCC) had its price target reduced by Truist Financial from $157.00 to $134.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective points to a potential upside of 26.58% from the stock’s previous close.

Several other equities research analysts also recently weighed in on BCC. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Loop Capital decreased their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, DA Davidson lowered their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price of $130.83.

Boise Cascade Stock Performance

NYSE:BCC traded down $0.93 during midday trading on Monday, reaching $105.86. 214,111 shares of the company traded hands, compared to its average volume of 295,692. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 11.07 and a beta of 1.57. The company has a fifty day moving average price of $123.15 and a 200 day moving average price of $132.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. Boise Cascade has a twelve month low of $102.27 and a twelve month high of $155.42.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a return on equity of 16.89% and a net margin of 5.60%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Boise Cascade

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Boise Cascade in the 4th quarter valued at $55,680,000. First Trust Advisors LP grew its holdings in Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after purchasing an additional 195,773 shares during the period. American Century Companies Inc. lifted its stake in shares of Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after buying an additional 121,790 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after purchasing an additional 119,103 shares during the period. Finally, Tidal Investments LLC grew its stake in Boise Cascade by 534.5% during the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock worth $11,921,000 after buying an additional 84,487 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.